Foreclosure in 78247>Question Details

mariavdiaz, Other/Just Looking in San Antonio, TX

Does a private first mortgager enjoy the same protection as a bank as far as overdue HOA dues?

Asked by mariavdiaz, San Antonio, TX Sun Mar 3, 2013

My mother has the first morgage position on a condominium. The buyers deffaulted on her they stopped paying her, they also stopped paying the HOA dues. She is going to take back the property. The Association wants all of their overdue fees. I understand that if this was a bank foreclosure they would be limited to 1 year dues or 1 percent of the original mortgage. Does this apply to my mother who in this case is in the place of the bank?

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Unfortunately she does not. I am not an attorney, but worked for an HOA. Put I would diffently consult with an attorney.
0 votes Thank Flag Link Sun Mar 3, 2013
I honestly do not know the answer, but a LOCAL real estate attorney will have the correct legal advice for you.
0 votes Thank Flag Link Sun Mar 3, 2013
I would consult with a real estate attorney as there are things you can do but i am not in a position to give legal advise
0 votes Thank Flag Link Sun Mar 3, 2013
As a Realtor, I am prohibited from answering any such legal matters. It is best to contact a good Real Estate attorney for some sound counsel. If you need a referral to one I can help you with that.

Gregory Touchstone
Keller Williams Realty
0 votes Thank Flag Link Sun Mar 3, 2013
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